Market Size of Automatic Weapons Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 9.47 Billion |
| Market Size (2029) | USD 13.59 Billion |
| CAGR (2024 - 2029) | 7.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automatic Weapons Market Analysis
The Automatic Weapons Market size is estimated at USD 9.47 billion in 2024, and is expected to reach USD 13.59 billion by 2029, growing at a CAGR of 7.5% during the forecast period (2024-2029).
The growing defense spending, especially from the developing countries, is the main growth driver for the market, as it is giving the necessary impetus to the procurement plans. Many countries are trying to modernize the weapons of their military personnel, for which they are procuring the latest firearms to equip their militaries. In this regard, advanced weapon systems with increased automation are being developed and purchased. The rise of automatic weapons procurement is also due to the growing internal conflicts among various countries around the world. Cross-border disputes between Turkey and Cyprus, India and China, and Russia and Ukraine led to regional conflicts, which led to the procurement of advanced weapons.
Moreover, the utilization of automatic weapons increased due to the rapid production of sophisticated weapons, trends linked to the modernization of defense equipment in key developing countries. In addition, the need for precision weapon systems increased the focus on advanced weapons to counter increasing incidents of terrorism. The introduction of high-tech, light automatic weapons and intelligent weapons is also fuelling the market growth.
